2 Types of costing Pre costing (initial cost) Direct costs= materials, labor, other Final costing = Manufacturer’s Costo (total, real ) Direct costs= materials, labor, other Indirect costs = design, merchandising, salaries, administration, rent, INS, etc. Retailer’s Cost= Manufacturer’s (Whole) cost Retail (consumer’s) price = Cost + markup Usually cost is about ½ retail (keystone)(Retail math concept to set retail price)Beauty, Spa and wellness: Cosmetics, fragrances, hair and skin, spas, and centersR & D◦ Research and product developmentMerchandising and marketing:Account rep/coordinator: involved with special events, promotions, traveling to sitesSales/account executive: Sells products to retailers, manages the accounts (inventory), and merchandises.Public relations account executive Works with media contacts, promotesRetail counter, line management Sell, manages, coordinates events and promotionsMakeup Artist: Works with product and peopleWellness Massages, facials, fitness, nutrition centers, spasEsthetics Makeovers and beauty-enhancement CAREER OPPORTUNITIES-VENDOR/WHOLESALEDefinitions: Vendor- resource-manufacturer Product to distribution International/global industryOrganization: Set up as any other business with officers, divisions, departments, and staffTop Executives: VICE PRESIDENT OF WHOLESALE SALES-Develops the strategies, leads staffs, controls budgets and has overall sales responsibilities. NATIONAL SALES MANAER-Manages sales, orders, distribution for a family of business EXS Girls - BCBG GIRLS MANAGER OF INTERNATIONAL LOGISTICS- Responsible for foreign accounts, responsible for trade issuesSales Executives: ACCOUNT EXECUTIVE-SOURCES AND MEETS WITH ACCOUNTS AND NEW ACCOUNTS) EXECUTIVE SALES ASSISTANT-SCHEDULES APPOINTMENTS, BOOKINGS, RESPONSIBLE FOR LINE ADDITIONS AND CANCELLATIONS)VENDOR SELLING STAFF:Sales Representatives Given a territory (region)2 MAJOR TYPES OF REPS corporate/Company – on their payroll In house/showroom Traveling Independent – paid on a commission basisCustomer Service Representative Sales Reps- analyze selling, tracks delivery, takes orders, works with retail buyers (communicate and visit buyers, attend markets) may have showroom responsibilities also. SHOWROOM REP- Responsible for merchandising maintenance and image Prepare for business (market week & appointments). Know current lines, clientele and have strong selling skills Prepare for appointments (Merchandising) Review selling history and various buying traits Assure purchase orders are set up along with look books, line books, swatches, etc. Review deliveries, and follow and check for reorders Know sales goals, usually commission status Monitor deliveriesMarketing/ Promotion/Publicity Promotes business (press releases, brochures, special events, shows, movies, celebrities, working with stylists) Develops advertising/promotional materials, (create and execute special events, etc)MERCHANDISERS:MERCHANDISING- Analyze records, visit stores and merchandise, analyze assortments, markdowns, presentation, and visual. Work closely with store management.WHOLESALE VISUAL MANAGER- Maintains brand image in stores and at shows Creates directives for store merchandising teams to follow Distributes visual collateral to store merchandising teamsMERCHANDISER/STYLIST Makes decisions concerning the company’s line and sourcing, marketing research, projecting sales, working with the mills, reviewing production considerations and costing the merchandise. May work with staff to schedule samples for promotional events. AssistantINTERNATIONAL MARKETS:Markets: Physical place where the buyer and seller come together to do business – purchase or sell goods Marts, trade shows, showrooms Foreign & Domestic Market weeks/calendarsMarket weeks:Designer F/W & S/S RTW January -- Summer March -- Fall IMay -- Fall II / HolidayAugust -- Holiday / ResortOctober -- Spring Foreign Markets: WHY SO IMPORTANT? BUYERS CONSTANTLY SEEKING CREATIVE AND INNOVATIVE FASHION MERCHANDISE. BUYERS SEEKING NEW RESOURCES. BUYERS TRAVEL TO THESE MARKETS TO OBSERVE NEW TRENDS, BUY SAMPLES TO COPY, ORTO PURCHASE THIS MERCHANDISE 4 major fashion markets: Paris, France Milan, Italy London, England NYC, NYOthers: Hong Kong, China, Spain, Germany, Canada, Scandinavia, Taiwan, etc.Paris, France: LOOKED TO FRANCE FOR YEARS FOR FASHION DIRECTION. ACTUALLY FOR CENTURIES, BECAUSEFRENCH DESIGNERS HAVE ALWAYS HAD AN IMPACT ON WHAT FASHIONS ARE PRODUCED AND SOLD IN OUR COUNTRY. Paris: Center of haute couture since 1858 Many haute couture houses still exist, i.e. St. Laurent, Dior, Valentino, etc. Large trade shows held at various hotels, major attraction sites, castles, Les Halles, a cultural center built on site of famous food market (30,000 buyers attend this show) and other various locations. Chambre syndacale: Organized in 1868 to coordinate the activities of the fashion industry To belong: established workroom in Paris, present twice a year, 75 designs, and employ sewers Services include: representation with government, registers and copyrights designs, coordinates dates for shows and manages attendance issues Changes: MADE UP OF FRENCH DESIGNERS FOR MANY CENTURIES, BUT TODAY DESIGNERS FROM VARIOUS COUNTRIES ARE LEADING THE FRENCH DESIGN HOUSES. HOUSE SET UP SIMILAR TO DESIGN HOUSES IN OUR COUNTRY WITH THE WORKROOMS CALLED ATELIERS AND SHOWROOMS CALLED SALONS. Milan, Italy: A leading center for men’s and women’s clothing (grew as leader in the 1970’s) Known for fine fabrics, knitwear Strong production base Haute couture/RTW - Alta Moda Armani, Versace, Dolce & Gabana, Gucci Other centers in Italy include Florence and Rome, Lake Como London, England: London’s Saville Row for men’s wear what Paris had been for women’s wear 60’s-known for Mini’s and Punk Woolens 80’s/90’s-being revived by designers such as Westwood, Galliano(Dior), McQueen(Givenchy) International shows: Shows staggered scheduled so buyers and fashion directors can go to all if need be. Foreign market notes: Apparel is designed and presented on two levels: Haute couture January/July Pret`a porter , YSL RTW is produced in greater
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